Ethereum ETF Providers Revise Fee and Investment Details in SEC Filings
Several well-known asset managers have submitted updated proposals for Ethereum exchange-traded funds (ETFs) to the United States Securities and Exchange Commission (SEC).
According to Eric Balchunas, an analyst at Bloomberg, VanEck, BlackRock, Grayscale, Invesco Galaxy Digital, and Fidelity have all filed to provide new information on their Ethereum funds.
VanEck’s filing disclosed a management fee of 0.20% for its Ethereum fund, similar to competitors like Franklin Templeton, which charges 0.19% in management fees. BlackRock has not yet announced the fee structure for its iShares Ethereum Trust (ETHA).
Balchunas suggested that VanEck’s fee announcement could pressure BlackRock to keep their management fees below 0.30%.
The approval of the S-1 registration statement is one of the final steps before the ETFs can launch on Wall Street exchanges. Balchunas predicts that the funds will be available in the first week of July, just before the U.S. Independence Day holiday.
In May, the SEC approved a rule change allowing major asset managers to list and trade eight spot Ether ETFs.
Fidelity’s updated filing revealed that FMR Capital seeded the fund with $4.7 million at a price of $38 per share. Bitwise also updated its ETF proposal with a potential $100 million investment from Pantera Capital upon launch.
Hashdex is seeking approval for a new ETF combining spot Bitcoin and Ether, after previously abandoning plans for an Ether-only ETF.
Bloomberg ETF analyst James Seyffart believes political decisions influenced the approval of spot Ethereum ETFs, rather than purely financial considerations. He noted that regulatory changes are needed for the approval of other crypto ETFs, like Solana.
Crypto investor Brian Kelly suggested that Solana could be the next cryptocurrency to have a spot ETF in the U.S., alongside Bitcoin and Ethereum. Bitwise has launched its first Ether ETF commercial, highlighting the benefits of Ethereum and its ability to be minted on the blockchain.
